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Why in the year 1981, people had a salary increase 14% but they still could not sprend more to buy more stuff than they had

Why in the year 1981, people had a salary increase 14% but they still could not sprend more to buy more stuff than they had bought the year before?

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FIGURE 7.5 Major Job Wage Settlements, 1967-2003 25 20 15 Annual percentage change 10 5 0 -5 + 1967 1971 1975 1979 1983 1987 1991 1995 1999 2003 Year Nominal wage rate CPI Real wage rate Sources: For 1967-77, authors' tabulations based on Labour Canada. Major Wage Settlements, various issues. Ottawa: Bureau of Labour Information. For 1978-2003, Statistics Canada CANSIM II database http://cansim2.statcan.ca, series V4327082

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